Zhejiang Taotao Vehicle Co., Ltd. (hereinafter referred to as "the Company") and all members of the Board of Directors guarantee that the content of this information disclosure is true, accurate, and complete, without false records, misleading statements, or major omissions.
The Company held the 13th meeting of the 4th Board of Directors on March 30, 2026, and approved the proposal on the use of part of the idle raised funds for cash management. It was agreed that the Company would use no more than RMB 252 million of idle raised funds (including oversubscription funds) for cash management, provided that it does not affect daily operations and the construction of investment projects funded by the raised funds. The funds will be used to invest in cash management products with high safety and good liquidity, with a usage period of 12 months from the date of board approval. Within the above limit and period, the funds can be used in a rolling manner.
The management of the Company is authorized to make investment decisions and sign relevant contracts, including but not limited to: selecting qualified financial management institutions, types of financial products, specifying investment amounts, investment periods, and signing contracts or agreements. The financial department of the Company is responsible for organizing the implementation. The limit approved in the 6th meeting of the 4th Board of Directors for the use of part of the idle raised funds for cash management will automatically terminate upon the effectiveness of this approval. This matter is within the authority of the Company's Board of Directors and does not require submission to the shareholders' meeting for approval. The sponsor, Zheshang Securities Co., Ltd., has issued a non-objection verification opinion on this matter.
The specific situation is announced as follows:
1. Basic Situation of Raised Funds
According to the approval document from the China Securities Regulatory Commission (CSRC) [2022] No. 2752 regarding the registration of the initial public offering of Zhejiang Taotao Vehicle Co., Ltd., the Company publicly issued 27,333,600 ordinary shares at a price of RMB 73.45 per share, raising a total of RMB 2,007,652,900. After deducting various non-tax issuance expenses of RMB 142,433,200, the actual net raised funds amounted to RMB 1,865,219,700. The raised funds were fully in place on March 14, 2023, and Tianjian Certified Public Accountants (Special General Partnership) conducted an audit on the funds' arrival and issued the "Tianjian Verification [2023] No. 87" verification report. The Company has opened a special account for the raised funds, ensuring that the raised funds are stored in a dedicated account, and has signed a tripartite/quadripartite supervision agreement with the bank of the special account and the sponsor.
2. Use of Raised Funds and Reasons for Idleness
(1) Use of Raised Funds (including oversubscription funds)
The actual net raised funds from the Company's initial public offering amounted to RMB 1,865,219,700, of which the oversubscription funds amounted to RMB 1,265,219,700. According to the prospectus for the initial public offering and subsequent disclosures regarding the investment projects and usage plans for the oversubscription funds, the specific investment situation of the raised funds (including oversubscription funds) is as follows: